SMM Aluminum Weekly Price Review and Forecast (Feb. 9-13, 2015)

Published: Feb 9, 2015 18:11

Save

SHFE 1504 aluminum contract followed crude oil and LME aluminum up to RMB 13,350/mt, but surrendered gains later.

SHANGHAI, Feb. 9 (SMM) – SHFE 1504 aluminum contract followed crude oil and LME aluminum up to RMB 13,350/mt, but surrendered gains later. In China’s spot market, sellers were anxious to sell, but processors showed little interest. This widened spot discounts to RMB 140/mt over SHFE 1502 aluminum contract.

Investors are cautious about opening long positions, so the most active SHFE aluminum contract should remain weak between RMB 13,200-13,350/mt. In China’s spot market, supply and demand will fall in tandem with the Chinese New Year holiday just around the corner. Spot discounts are expected to expand to RMB 140-180/mt over the SHFE 1502 aluminum contract.

SHFE aluminum prices China aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn